Wednesday 13 December 2017

Sensex Rallies Over 100 Points; Nifty Bank Reverses Losses

Posted by suhani varma on Wednesday, December 13, 2017 with No comments



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Indices are trading higher led gains by HDFC Bank, Reliance Industries, Kotak Mahindra Bank, TCS, L&T and Infosys.
Benchmark indices turned positive after a negative start ahead of US Federal Reserve's policy outcome later today. Also, gains in oil and gas shares helped the markets to recover from morning losses.

On the economy front, November CPI inflation rose to a 15-month high of 4.88% and industrial output growth slowed to a 3-month low of 2.2% in October.

the BSE Sensex was trading at 33,73, higher by 145 points, while the broader Nifty50 was ruling at 10,289, up by 49 points.

Unitech stock fell over 9.5% after the Supreme Court stayed NCLT order passed against Unitech. NCLT had on Friday allowed the government to appoint 10 nominee directors on the board of the company and restrained current directors from acting as board members.

Dairy stocks surged. Prabhat Dairy Ltd rose 15%, Parag Milk Foods 7%, Kwality Ltd 5%, Umang Dairies 8% and Vadilal Industries was up 1.3%.

Hindustan Copper surged 7% after the company announced that it has re-opened the Kendadih copper mine located in Jharkhand.

Shares of Punj Lloyd climbed over 10% after the company informed bourses that it has received orders from GAIL (India) and NHAI.

Kalpataru Power zoomed 5% after the company said that it has secured a new order worth Rs875cr.

The BSE Midcap Index and BSE Smallcap Index gained 0.22% and 0.36% respectively.

On the sectoral front, Auto, Pvt Bank, Nifty Bank, Media and Pharma were the top gainers, while PSU Bank, Metal and Realty Index were the top losers on the NSE.

HPCL (+2.9%), BPCL (+2.4%), IOC (+1.9%), Infratel (+1.7%) and GAIL (+1.4%) were the top gainers on the Nifty50.

Vedanta (-1.6%), Adani Ports (-1.2%), ICICI Bank (-0.85%), Power Grid (-0.81%) and Bajaj Finance (-0.7%) were the top losers in today’s trade.

India VIX is down by 3.19%.

Out of 1,988 stocks traded on the NSE, 966 advanced, 632 declined and 390 remained unchanged today.

A total of 45 stocks registered a fresh 52-week high in trade today, while 10 stocks touched a new 52-week low on the NSE.

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